In Brisbane, the economy remains supportive to the market overall, with detached house prices continuing to grow.
However there is evidence of the affect of the high-rise glut, as unit prices start to fall.
So it really looks like two different markets in Brisbane…
The apartment glut is hurting apartment prices (although even so, this may be contained to inner-city high-rises).
The detached housing market remains insulated to what’s going on in the apartment segment. So far, it seems, we are not seeing any carry over into the detached housing market.
This looks like good news for investors in Brisbane (those who have purchased detached houses and who don’t have exposure to high-rises).
Positivity here for the property market. We may have been building a tonne of new high-rise apartment stock across the country, but the early evidence suggests that it shouldn’t affect the market over all.
We can put that risk to the back of our watch-list for now.